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Erie County/Erie/16534

16534

ZIPFMR
Erie County, PA
Zillow
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ZIP Investment Score

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095130300
BRFMR
Eff. Rent
0 BR$753$830
1 BR$851$900
2 BR$1,091$970
3 BR$1,350$1,180
4 BR$1,564$1,160
5 BR$1,799Not available
6 BR$2,068Not available
7 BR$2,379Not available
8 BR$2,735Not available

Purchase Price Calculator

Maximum purchase price
$82,225

Cost breakdown

+Likely effective rent$970
HUD FMR$1,091
Market rentUsed$970
Est. payment standard (93%)$1,010
-Principal and interest-$416
Loan amount$65,780
Down payment$16,445
Rate6.50%
Term30 years
-Operating costs-$354
Property taxes-$82
Insurance-$175
Utilities$0
HOA$0
Management-$97
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$15,879(96.6% ROI)
Projected value
$88,547
Return breakdown
Property appreciation+$6,322
Loan principal paid down+$2,357
Rental cash flow+$7,200
5-year hold
+$27,008(164.2% ROI)
Projected value
$93,030
Return breakdown
Property appreciation+$10,805
Loan principal paid down+$4,203
Rental cash flow+$12,000
10-year hold
+$57,044(346.9% ROI)
Projected value
$105,255
Return breakdown
Property appreciation+$23,030
Loan principal paid down+$10,014
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.80
1 BR
0.93
2 BR
1.12
3 BR
1.14
4 BR
1.35
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
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Tax rate
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Mortgage rate
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ZIP 16534 fair market rent, FY 2027

For FY 2027, HUD's Fair Market Rent for a two-bedroom unit in ZIP 16534 (Erie, PA) is $1,091 a month. That is down 10.0% from $1,212 in FY 2026. Erie is in the Erie, PA MSA. The median county two-bedroom FMR in Pennsylvania is $1,136, so ZIP 16534 is 4% below it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 16534
BedroomsFY 2027Change90–110% range
Studio$753−9.9%$678–$828
1BR$851−9.9%$766–$936
2BR$1,091−10.0%$982–$1,200
3BR$1,350−9.9%$1,215–$1,485
4BR$1,564−7.1%$1,408–$1,720

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 16534
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$753$851$1,091$1,350$1,564
FY 2026$836$945$1,212$1,499$1,683
FY 2025$781$861$1,118$1,392$1,512
FY 2024$726$757$983$1,227$1,345
FY 2023$703$731$947$1,174$1,301

Questions about ZIP 16534 rents

How much will Section 8 pay for a two-bedroom in ZIP 16534?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,091, that basic range is $982 to $1,200 a month. The voucher pays the lower of the payment standard or the gross rent, minus the tenant's share, which is usually about 30% of adjusted monthly income. Confirm the local housing authority's current schedule before underwriting.

Which HUD fair market rent area is ZIP 16534 in?

ZIP 16534 is in the Erie, PA MSA. Small Area FMRs are not mandatory in this area.

How much did fair market rent change in ZIP 16534 for FY 2027?

The two-bedroom FMR fell 10.0%, from $1,212 in FY 2026 to $1,091 in FY 2027. Since FY 2023 it has risen 15.2%.

When do FY 2027 fair market rents take effect?

HUD's FY 2027 fair market rents took effect on October 1, 2026. When FMRs change, housing authorities generally have up to three months to bring payment standards back within 90% to 110% of the new FMR.

Source: HUD FY 2027 Fair Market Rents. Payment-standard ranges are 90% to 110% of FMR, HUD's basic range, not a housing authority's published schedule. How payment standards are set

County fair market rentErie, PA fair market rentPA statewide rentsWhat is SAFMR?Data sources